Cloud-based software operates entirely in the cloud (on the internet), whereas locally-installed software is downloaded and installed on a single, on-premise computer. The first major deciding factor is whether or not you want cloud-based or locally-installed software. If you read the overview of each QuickBooks product, you may already have an idea of which version of QuickBooks is best for your small business. These five questions will help you narrow down your search and find what you’re looking for. QuickBooks Mac Plus is best for small to medium-sized businesses looking for locally-installed software compatible with Macs.
- If you’re a freelancer, QuickBooks Solopreneur is the obvious choice.
- These hours can be added by the manager manually, though the employee in question can also be given permission to add their hours themselves.
- QuickBooks’ range of over 650 integrations will help you connect your account to useful third-party apps and services.
- It also gives you the ability to run accounts payable aging reports so you keep up on bill due dates.
- You can also use other payment processors QuickBooks integrates with.
- The software includes certain features Pro lacks, including business plans, inventory assemblies, and sales forecasting.
Get all the tools you need to manage your business
QuickBooks Online has a monthly pricing structure — you pick the right plan and then pay every month for the service. QuickBooks Desktop, however, has a three-year license, or you can pay for yearly updates. Some Payroll plans include printed forms at no additional cost. The Premium and Elite plans also support automatic filings for state new hire paperwork. You can track KPIs with in-depth analysis tools, consolidate data from multiple companies into singular reports, and compare different companies, clients, or franchises. You also get access to exclusive premium apps such as LeanLaw, HubSpot, DocuSign, Bill.com, Salesforce, and more.
How simple is it to change from one QuickBooks Online plan to another?
Advanced Inventory is included in the Platinum and Diamond subscriptions only. Advanced Reporting is included in all QuickBooks Desktop what to do when an employee resigns Enterprise subscriptions. Yes, you can switch to another plan from any version of QuickBooks Online, QuickBooks Payroll, and QuickBooks Time. Get paid and manage your business money with one simple tool.
QuickBooks now offers a free small business checking account called QuickBooks Checking (formerly known as QuickBooks Cash). Opening a QuickBooks Checking account is free, with no monthly fees or account minimums. QuickBooks Online users can access QuickBooks’ lending service. QuickBooks Capital offers term loans up to $200,000 and an invoice financing option that provides up to $50,000 to eligible QBO users. The QuickBooks Online net accounts receivable Simple plan costs $35/month and supports one user. This option is best for large businesses that could benefit from the extra support features, like a dedicated manager or virtual training classes.
Businesses that require multiple users or want more accounting features will benefit more from using QuickBooks Online. Unfortunately, QuickBooks no longer offers this option for purchase online. To purchase QuickBooks Desktop Pro, you will need to contact QuickBooks Sales by phone. QuickBooks Solopreneur’s features are designed specifically for freelancers to address needs such as estimating quarterly taxes, filing Schedule Cs, and tracking deductions. You can easily separate personal and business expenses, which is ideal for freelancers who don’t have separate business bank accounts.
But you’ll still have to choose the specific packages for each one. If you have an online store, the Plus plan can be best for you. It seamlessly integrates with your store so you can track and fulfill orders from all sales channels. If you’re a growing company, tracking employees’ billable hours will also help because you can compare human resource accounting definition budgeted and actual working hours.
Simple Start
The Essentials plan is best for growing or service-based small businesses. You can have up to 3 users per account, which is enough for a small team. You can also assign employee cost rates and automatically add their time to invoices.
How To Save On QuickBooks Online Costs
Let us know how well the content on this page solved your problem today. All feedback, positive or negative, helps us to improve the way we help small businesses. This easy-to-use and feature-rich software is ideal if you have no bookkeeping experience and want top-notch customer support. At the end of the day, the cost of QuickBooks Online depends on your business’s needs, and the cost of QuickBooks doesn’t stop at just $35/month for most businesses. Intuit typically offers deals where new users can get a discount on QuickBooks Payroll by bundling it with a QuickBooks Online subscription.
QuickBooks Premier is best for small to medium business with five users or fewer that need strong accounting and industry-specific accounting features. QuickBooks Solopreneur (formerly QuickBooks Self-Employed) isn’t quite accounting software. QuickBooks Self-Employed is tax software created to help freelancers manage their finances. Existing QuickBooks Desktop Pro, Premier, Mac, or Enhanced Payroll users will not be impacted.